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Cost, not climate, is driving transition to renewables: BlackRock’s Jim Barry

BlackRock has almost $5 billion invested in renewables, the global head of BlackRock Infrastructure Investment Group told CNBC on Friday.

“As I look at infrastructure, I’m looking for where the structural shifts (are) underway, and there’s a massive structural shift underway in the power generation system,” Jim Barry said.

“To give you a sense of the scale, renewable deployment has gone from less than $20 billion a year 10 years ago to $300 billion a year. It’s almost 30 percent of the global addressable market in infrastructure. This is no longer niche, it’s fundamental to any infrastructure allocation.”

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